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Real Madrid have announced the signing of Trent Alexander-Arnold and Liverpool will receive an eight-figure transfer fee.
Alexander-Arnold, 26, was under contract with boyhood club Liverpool until June 30 but Real will pay them a total of £10million - an £8.4m fee plus his remaining wages - in order to sign him a month early.
The agreement allows the England international, who's signed a five-year deal worth more than £220,000 per week, to feature at this summer's Club World Cup which Real will compete in unlike Liverpool.
Alexander-Arnold confirmed on May 3 that he'd be leaving Liverpool after 20 years at the club.
Having broken into the Reds' first-team back in 2016, the right-back went on to win two Premier League titles, one Champions League, one FA Cup and one League Cup.
Announcing the move, Real said: "Real Madrid CF and Liverpool FC have reached an agreement that will keep Trent Alexander-Arnold at our club for the next six seasons, from June 1, 2025, to June 30, 2031."
Liverpool added: "Liverpool FC can confirm an offer has been accepted for Trent Alexander-Arnold from Real Madrid for his transfer upon the opening of the June transfer window."
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The defender was booed on his first outing at Anfield after confirming the news of his exit, but his second and final appearance post-announcement was good-natured.
"I didn't know what to expect stepping out at Anfield after what had happened a few weeks ago," Alexander-Arnold said amid Liverpool's Premier League title celebrations.
Trent Alexander-Arnold's final act as a Liverpool player was lifting the Premier League title.